BitRiver to sue US Treasury over sanctions
The company will demand to remove it from the sanctions list
11.05.2022 - 09:00
473
2 min
0
What’s new? The Russian operator of mining centers BitRiver may sue the US Treasury Department because of the sanctions imposed in April 2022. The company told RIA Novosti reporters about this.
What else is known about BitRiver’s plans? The company stated that the actions of the US Treasury Department cause reputational harm to BitRiver and its international business, the agency’s accusations are unsubstantiated, and there is no legal basis for imposing sanctions.
BitRiver representatives stressed that they are a 100% private company and do not help the Russian authorities to circumvent sanctions. The operator of mining centers will seek to have the restrictions lifted, and will also charge the US Treasury with unfair competition and lobbying the US mining industry.
What events happened before? The US Treasury Department imposed sanctions on the BitRiver mining group on April 20. Its operations and assets, including its 10 subsidiaries, have been completely blocked in the United States, and residents of the country were prohibited from working with BitRiver. The Treasury Department believes that cryptocurrency mining allows Russia to monetize its natural resources, and the US strives to ensure that no asset becomes a mechanism for Russia to circumvent sanctions.
What is known about BitRiver? The company was founded by Igor Runtz in 2017 and is headquartered in Zug, Switzerland. BitRiver provides hosting services and turnkey solutions for large-scale mining. The company has offices in Russia and representative offices in China, Japan, the UAE, South Korea, Switzerland, Germany, and the US. The data center network uses hydroelectric power to operate.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024